Pulmonx Co. (NASDAQ:LUNG) Receives $11.53 Average Price Target from Analysts

Shares of Pulmonx Co. (NASDAQ:LUNG) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.53.

Several brokerages have issued reports on LUNG. Piper Sandler reaffirmed an “overweight” rating and set a $9.00 target price (down previously from $10.00) on shares of Pulmonx in a research note on Thursday, May 1st. Canaccord Genuity Group lowered their target price on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group began coverage on shares of Pulmonx in a research note on Monday, March 10th. They set a “buy” rating on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $17.00 target price on shares of Pulmonx in a research note on Thursday, May 1st. Finally, Citigroup lowered their target price on shares of Pulmonx from $6.50 to $4.15 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd.

Pulmonx Stock Down 3.5%

Shares of NASDAQ LUNG opened at $3.03 on Wednesday. The company’s 50-day simple moving average is $3.94 and its 200-day simple moving average is $5.83. Pulmonx has a 52-week low of $2.83 and a 52-week high of $9.37. The firm has a market cap of $121.98 million, a price-to-earnings ratio of -2.10 and a beta of 0.52. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40.

Pulmonx (NASDAQ:LUNG) last announced its earnings results on Wednesday, May 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. Pulmonx had a negative net margin of 67.31% and a negative return on equity of 55.36%. The business had revenue of $22.54 million for the quarter, compared to analyst estimates of $22.03 million. Equities analysts predict that Pulmonx will post -1.55 EPS for the current fiscal year.

Insider Transactions at Pulmonx

In other news, Director Richard Ferrari sold 8,000 shares of Pulmonx stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $3.16, for a total transaction of $25,280.00. Following the transaction, the director now owns 87,024 shares in the company, valued at $274,995.84. The trade was a 8.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glendon E. French III sold 20,000 shares of Pulmonx stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $7.85, for a total value of $157,000.00. Following the transaction, the director now owns 991,974 shares in the company, valued at approximately $7,786,995.90. This represents a 1.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,388 shares of company stock worth $293,044 in the last quarter. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC purchased a new position in shares of Pulmonx during the 4th quarter worth $72,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Pulmonx by 44.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,941 shares of the company’s stock valued at $570,000 after buying an additional 25,988 shares during the period. SG Americas Securities LLC raised its holdings in Pulmonx by 27.0% in the 4th quarter. SG Americas Securities LLC now owns 15,555 shares of the company’s stock valued at $106,000 after buying an additional 3,310 shares during the period. Millennium Management LLC raised its holdings in Pulmonx by 26.6% in the 4th quarter. Millennium Management LLC now owns 183,069 shares of the company’s stock valued at $1,243,000 after buying an additional 38,425 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Pulmonx by 38.7% in the 4th quarter. Renaissance Technologies LLC now owns 220,510 shares of the company’s stock valued at $1,497,000 after buying an additional 61,500 shares during the period. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Pulmonx Company Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.